Affordable
Expensive
Expensive
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These days, finding an affordable place to live in the Prospect Park area can be challenging. Home prices in Prospect Park are now at a median cost of $540,758, higher than the Minneapolis average of $397,223.
The average cost of rent is $1,475/mo in Prospect Park, primarily driven by the current value of real estate in the Prospect Park area. In Prospect Park, 79.55% of households rent, and 78.22% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Prospect Park is $4,115 per month. Households that rent pay about 35.84% of their income on rent here. Prospect Park’s most expensive areas are in the southwestern regions, while the cheapest areas are in the southeastern parts of the neighborhood.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Neighborhoods
- University District, Minneapolis, MN: less expensive homes
- Seward, Minneapolis, MN: less expensive homes
- Saint Anthony, St. Paul, MN: less expensive homes
- Cedar-Riverside, Minneapolis, MN: less expensive homes
- Southeast Como, Minneapolis, MN: less expensive homes
- Marcy Holmes, Minneapolis, MN: less expensive homes
- Cooper, Minneapolis, MN: less expensive homes
- East Phillips, Minneapolis, MN: less expensive homes
- Downtown East, Minneapolis, MN: higher priced homes
- Ventura Village, Minneapolis, MN: less expensive homes
Neighborhoods with Similar Populations
- Airport-Pines Road, Shreveport, LA: less expensive homes
- Phoebus, Hampton, VA: less expensive homes
- Outer Mission, San Francisco, CA: higher priced homes
- Oceanway, Jacksonville, FL: less expensive homes
- Northwest Akron, Akron, OH: less expensive homes
- Northside Ann Arbor, Ann Arbor, MI: less expensive homes
- Mondawin-Walbrook, Baltimore, MD: less expensive homes
- Moanalua, Honolulu, HI: higher priced homes
- McMurray-Huntingdon, Nashville, TN: less expensive homes
- La Homa, Mission, TX: less expensive homes
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